‘Everything Store’ nothing short of unbalanced, says Bezos wife

November 5, 2013 12:14 am

‘Everything Store’ nothing short of unbalanced, says Bezos wife

By Barney Jopson in Los Angeles

Jeff Bezos’s wife has deployed one of her husband’s most celebrated innovations – the unfiltered product review on Amazon – to trash a high-profile new book about the online retailer and its founder. MacKenzie Bezos, who is a novelist, offered a withering critique and a one-star ratingfor The Everything Store: Jeff Bezos and the Age of Amazon, a book by Brad Stone, a technology reporter at Bloomberg Businessweek.Mrs Bezos complained that the book contained “numerous factual inaccuracies” and was “unbalanced” because it highlighted negative accounts of working life at Amazon while treating more positive assessments dismissively.

Her criticisms generated a new round of publicity for the book on Monday and also underscored – as Mrs Bezos herself pointed out – how the internet is enabling the characters in non-fiction to “step out of books . . . and speak for themselves”.

Amazon will be twenty years old next year and its decision to allow unvarnished book reviews was one of Mr Bezos’s boldest early decisions. Publishers disliked the idea of a bookseller providing a platform for criticism, but Amazon argued for transparency.

Mr Stone, the book’s author, told New York magazinethat he stood by the accuracy of his account of the “incredibly secretive company” and that he had strived to make sure it was balanced. He added: “I am less biased than Jeff’s own wife.”

Despite Mrs Bezos’s single star, Mr Stone’s book maintains an average score of 4.5 out of five stars from 44 reviewers on Amazon. It also got a flattering review from The New York Times’ influential book critic Michiko Kakutani.

Mrs Bezos’s latest thriller, Traps, has an average rating of four stars from 59 reviews. She and her future husband met at the hedge fund DE Shaw in New York where they both worked.

Amazon confirmed the authenticity of Mrs Bezos’s review and took the opportunity to attack the book itself. A spokesman said: “[Mr Stone] had every opportunity to thoroughly fact check and bring a more balanced viewpoint to his narrative, but he was very secretive about the book and simply chose not to.”

In the book Mr Stone says that Mr Bezos was “supportive of this project even though he judged that it was ‘too early’ for a reflective look” at the company.

Mr Stone did not interview Mr Bezos for the book but he said he drew on past conversations he had had with Amazon’s founder over the past decade. He interviewed some 300 other people, including senior Amazon executives.

Mrs Bezos also pointed out that two other reviewers with first-hand knowledge of some of the events in the book – one current and one retired Amazon employee – had challenged the accuracy of some details.

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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